New Zealand - Services, value added (% of GDP)

Services, value added (% of GDP) in New Zealand was 65.50 as of 2018. Its highest value over the past 47 years was 65.97 in 2015, while its lowest value was 51.21 in 1972.

Definition: Services correspond to ISIC divisions 50-99 and they include value added in wholesale and retail trade (including hotels and restaurants), transport, and government, financial, professional, and personal services such as education, health care, and real estate services. Also included are imputed bank service charges, import duties, and any statistical discrepancies noted by national compilers as well as discrepancies arising from rescaling. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The industrial origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3 or 4.

Source: World Bank national accounts data, and OECD National Accounts data files.

See also:

Year Value
1971 51.85
1972 51.21
1973 52.67
1974 54.05
1975 54.46
1976 52.65
1977 53.76
1978 54.81
1979 52.78
1980 54.34
1981 54.11
1982 54.64
1983 55.22
1984 54.23
1985 57.69
1986 58.78
1987 58.32
1988 59.84
1989 58.59
1990 60.34
1991 60.07
1992 60.25
1993 59.65
1994 59.57
1995 60.43
1996 61.04
1997 61.78
1998 63.27
1999 62.70
2000 61.81
2001 62.12
2002 63.21
2003 63.91
2004 63.89
2005 64.31
2006 64.33
2007 63.40
2008 64.33
2009 65.54
2010 64.40
2011 64.35
2012 65.10
2013 64.43
2014 65.53
2015 65.97
2016 65.74
2017 65.21
2018 65.50

Limitations and Exceptions: In the services industry the many self-employed workers and one-person businesses are sometimes difficult to locate, and they have little incentive to respond to surveys, let alone to report their full earnings. Compounding these problems are the many forms of economic activity that go unrecorded, including the work that women and children do for little or no pay.

Statistical Concept and Methodology: Gross domestic product (GDP) represents the sum of value added by all its producers. Value added is the value of the gross output of producers less the value of intermediate goods and services consumed in production, before accounting for consumption of fixed capital in production. The United Nations System of National Accounts calls for value added to be valued at either basic prices (excluding net taxes on products) or producer prices (including net taxes on products paid by producers but excluding sales or value added taxes). Both valuations exclude transport charges that are invoiced separately by producers. Total GDP is measured at purchaser prices. Value added by industry is normally measured at basic prices. Financial intermediation services indirectly measured (FISIM) is an indirect measure of the value of financial intermediation services (i.e. output) provided but for which financial institutions do not charge explicitly as compared to explicit bank charges. Although the 1993 SNA recommends that the FISIM are allocated as intermediate and final consumption to the users, many countries still make a global (negative) adjustment to the sum of gross value added.

Aggregation method: Weighted average

Periodicity: Annual

Classification

Topic: Economic Policy & Debt Indicators

Sub-Topic: National accounts